Piecing together the puzzle
With all the opportunities and challenges that analytics present, it can feel as though there are many “pieces” that need to be put together. However, it’s imperative to work out what the overall business problem looks like before attempting to complete the puzzle. While there are certainly analytics-specific projects — including maturity assessments, gap analyses, data governance, data strategy or small proof of concepts — most of the work is centered around achieving the bigger business objectives. Analytics is one of the many powerful tools to help solve the business problem.
Analytics also presents an exciting yet daunting amount of opportunities for telcos to expand into different markets — such as insurance, gaming and banking — or establish cross-industry partnerships to open up new revenue streams. That’s why it’s important to track the trends and understand their relevancy to your business.